# Markets finally respond to wet weather - Agweek | #1 source for agriculture news, farming, markets

> Grain markets had been falling for weeks on the US-China trade war, Canada-China tensions and large supplies. A USDA crop progress report on May 20, 2019 showed planting far behind schedule, triggering a rally as funds cut net short positions.

- Date: 2019-05-19 · published 2019-05-19T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/5629-markets-finally-respond-to-wet-weather-agweek-1-source-for-agriculture-news
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Planting delays threaten yield and acreage, and fund short-covering drives prices higher. Feed buyers face firmer corn and soybean meal costs.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2019-05-20 | 1 | +6.6% | 6.1 | The May 20 USDA crop progress report showing planting far behind triggered a rally as funds cut net shorts, explaining the sharp one-day jump. |
| SOY | 2019-05-27 | 1 | +3.2% | 3.6 | The USDA crop progress report showing planting far behind triggered fund short-covering, which sets up the weather-driven rally in soybeans. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-01-21 | [The market rally after the reports - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10893-the-market-rally-after-the-reports-agweek-1-source-for-agriculture-news-farming.md) | +1.4% | +6.9% |
| CORN | 2023-05-26 | [From too wet, to too dry, weather takes control of market direction - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/13280-from-too-wet-to-too-dry-weather-takes-control-of-market-direction-agweek-1.md) | -4.9% | +0.1% |
| CORN | 2016-06-06 | [Soybeans rise on U.S. weather view; wheat, corn firm - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/9123-soybeans-rise-on-u-s-weather-view-wheat-corn-firm-agweek-1-source-for.md) | +2.7% | -7.0% |
| CORN | 2016-07-14 | [Chicago corn hits 2-week high on U.S. crop concerns - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/4939-chicago-corn-hits-2-week-high-on-u-s-crop-concerns-agweek-1-source-for.md) | +3.9% | -0.6% |
| CORN | 2026-07-25 | [Heat wave hits crops during crucial growing period - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12982-heat-wave-hits-crops-during-crucial-growing-period-agweek-1-source-for.md) | -4.8% | +0.5% |
| SOY | 2022-01-21 | [The market rally after the reports - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10893-the-market-rally-after-the-reports-agweek-1-source-for-agriculture-news-farming.md) | +1.6% | +11.7% |
| SOY | 2023-12-22 | [Grains respond to continued hot, dry weather in Brazil - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/11282-grains-respond-to-continued-hot-dry-weather-in-brazil-agweek-1-source-for.md) | -0.3% | -4.5% |
| SOY | 2016-06-06 | [Soybeans rise on U.S. weather view; wheat, corn firm - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/9123-soybeans-rise-on-u-s-weather-view-wheat-corn-firm-agweek-1-source-for.md) | +4.1% | +3.2% |

## Sources

- agweek.com: https://www.agweek.com/opinion/markets-finally-respond-to-wet-weather

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.